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\begin{tabular}{lccccc} \hline
 & (1) & (2) & (3) & (4) & (5) \\
VARIABLES & wtot\_debt\_bank & wtot\_tot\_debt & tot\_cashratio & tot\_cash & tot\_roa \\ \hline
 &  &  &  &  &  \\
1.justbelow & 327.0*** & 1,065*** & -0.00186 & -0.308 & -0.888 \\
 & (108.5) & (410.7) & (0.00486) & (87.43) & (1.884) \\
1.justbelow\#1.new\_law & -377.5*** & -1,220** & 0.0160** & 87.62 & -2.259 \\
 & (143.5) & (544.2) & (0.00630) & (113.4) & (2.566) \\
 &  &  &  &  &  \\
Observations & 7,784 & 7,981 & 5,835 & 5,835 & 8,979 \\
City FE & Yes & Yes & Yes & Yes & Yes \\
Institution FE & Yes & Yes & Yes & Yes & Yes \\
Year FE & Yes & Yes & Yes & Yes & Yes \\
 Years of Activity & Yes & Yes & Yes & Yes & Yes \\ \hline
\multicolumn{6}{c}{ Standard errors in parentheses} \\
\multicolumn{6}{c}{ *** p$<$0.01, ** p$<$0.05, * p$<$0.1} \\
\end{tabular}
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